Phemex, a cryptocurrency exchange, has launched a new futures trading product called Phemex TradFi, enabling 24/7 trading of traditional financial assets like stocks and precious metals. The move marks a strategic expansion for the exchange into multi-market derivatives, positioning it as an all-in-one trading hub where users can manage exposure to both digital and traditional assets within a single USDT-settled futures framework.
The initial product focus is on stock futures and precious metals, with plans to later introduce futures linked to commodities, foreign exchange, and global indices. This reflects a broader trend among crypto exchanges seeking to capture demand for around-the-clock access to traditional markets through tokenized or synthetic derivatives.
To drive early adoption, Phemex has initiated a three-month 0-Fee TradFi Futures Carnival starting February 6. The promotion includes a $100,000 incentive pool aimed at structured and risk-aware participation, as well as a first-trade protection mechanism that reimburses eligible users with a trading bonus if their first TradFi futures trade results in a loss.
The exchange emphasizes that its new suite allows unified collateral management and consistent settlement mechanics across crypto and non-crypto markets, using USDT as the settlement asset. This approach removes the need for traders to maintain separate brokerage accounts. A key selling point is the ability for these futures to continue price discovery outside standard equity exchange hours, allowing traders to respond to macro events during nights, weekends, or market closures.
Phemex stated that TradFi futures trading will operate under transparent maker-taker pricing rather than spread-based execution. The exchange also plans to extend its copy trading support to TradFi futures, blending professional futures mechanics with retail engagement tools.
"As markets become more connected and operate beyond fixed sessions, platforms need to evolve with them," said Federico Variola, CEO of Phemex. "Our goal with Phemex TradFi is not to replicate traditional markets, but to rethink how they are accessed." Founded in 2019, Phemex serves over 10 million traders globally.
